CureVac Shareholders Face Final Trading Window as BioNTech Merger Concludes

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The corporate acquisition of CureVac by BioNTech is now final, initiating a definitive timeline for the remaining shareholders. Following a successful squeeze-out procedure, the curtain is set to fall on CureVac's NASDAQ listing in early January 2026. Here is the essential information for investors still holding the stock.

NASDAQ has officially confirmed the schedule for the delisting process. The last opportunity to trade CureVac shares will be on January 5, 2026, with trading halting after the close at approximately 7:50 PM EST. The formal merger will be executed on January 6, 2026, leading to the permanent suspension of trading effective January 7, 2026.

This follows BioNTech's tender offer, which concluded on December 18, 2025, with an acceptance rate of approximately 86.75%. A total of 195.3 million CureVac shares were exchanged at a ratio of 0.05363 BioNTech American Depositary Shares (ADS) for each CureVac share. The remaining 13.25% minority stake will be compulsorily acquired via the squeeze-out in January 2026. CureVac was already removed from major indices on December 24, 2025, after its free float fell below 15%.

Leadership and Operational Integration

A complete leadership transition is underway. CureVac's former executive team has stepped down, replaced by a BioNTech-led management group. Integration is now being directed by Prof. Ugur Sahin, Dr. Sierk Poetting, and Ramón Zapata-Gomez. Operational consolidation has commenced, symbolized by CureVac's website now redirecting visitors directly to BioNTech's online presence.

Strategic Assets Acquired by BioNTech

The acquisition grants BioNTech control over CureVac's core mRNA technology assets. These include the proprietary RNA Printer® manufacturing platform and the FRAMEpro algorithm used for antigen identification. Oncology pipelines are considered a particularly valuable component of the deal, featuring candidates like the glioblastoma therapy CVGBM and platforms for personalized cancer immunotherapies. BioNTech will also absorb CureVac's production facility in Tübingen into its global manufacturing network.

Tax Implications for Remaining Shareholders

Investors who did not participate in the initial tender offer should be aware of potential additional costs. The BioNTech ADS received through the subsequent squeeze-out will be subject to a Dutch withholding tax of 15% on any future dividends—a financial nuance that adds to the burden for those who held out.

The window for action is closing. After January 5, 2026, CureVac will cease to exist as a publicly traded entity, with its innovative technologies absorbed into BioNTech's expanding portfolio.